The Nifty 50 index fell 0.84% to 17,320.50.
File) Indian shares fell on Monday, dragged by I.T. stocks, with the benchmark Nifty slipping below a key long-term average for the first time in over four months after U.S. data reinforced fears of a prolonged high-interest rate regime.
The Nifty 50 index fell 0.84% to 17,320.50, while the S&P BSE Sensex edged 0.76% lower to 59,013.02 as of 10:46 a.m. IST.
Nine of the 13 sectoral indexes declined, led by a 2.5% drop in high-weightage information technology with all of its 10 constituents in the red.
Meanwhile, prospects of another Bank of England interest rate hike in March rose after last week's buoyant Composite Purchasing Managers Index data in February.
Source: NDTV